For many years psychological studies of the learning process have used a simulated medical diagnosis task in which symptom configurations are probabilistically related to diseases. Participants are given a set of symptoms and asked to indicate which disease is present, and feedback is given on...

We study human learning in a individual choice laboratory task called Orange Juice Futures price forecasting (OJF), in which subjects must implicitly learn the coefficients of two independent variables in a stationary linear stochastic process. The 99 subjects each forecast in 480 trials with...

This chapter reports several robustness checks. OJ specifications designed to capture prior beliefs and non-linear responses to news detected some transient effects in many subjects, but for the most part the final regression is indistinguishable from the basic specification presented in this...

We study learning in an individual choice price forecasting task in which subjects must learn coefficients of two independent variables in stationary linear stochastic processes. The 99 subjects each forecast in 480 trials with feedback. Learning is tracked by fitting individual forecasts to the...